🚨✅Pros and Cons of Bitcoin: 20 Advantages and Disadvantages of BTC

[Part-1]

What are the pros and cons of Bitcoin? Should I buy bitcoin? If you’re thinking about investing in bitcoin, it’s important to get a good understanding of the advantages and disadvantages of the blockchain protocol. In this guide, you’ll learn about both bitcoin’s strengths and weaknesses, so you can make an informed decision.

🔶 10 advantages of bitcoin

🟠 1. Store of value

Earning the title of ‘digital gold’, bitcoin is now accepted as a store of value by many sophisticated investors. As you’re probably aware, a store of value is a commodity, asset, or currency that keeps its value over a long period of time — a trait that’s especially important during inflationary times. Read our in-depth article to learn more about bitcoin as a store of value.

🟠 2. Outsized returns

Bitcoin has been the best performing asset class of the last decade. It even outperformed the second-best performing asset class, the NASDAQ 100, by an order of magnitude. Even small investments have generated outstanding returns for long-term investors. Naturally, bitcoin’s historic rise has generated many bitcoin success stories.

🟠 3. Self-custody

Individuals can self-custody cryptocurrencies like bitcoin. You don’t need to rely on a bank, legal documents, or a single entity to take complete ownership of your assets. This makes an incredible impact in countries across the globe without strong property rights, giving individuals more control over their future. And if you self-custody your own bitcoin, make sure you select the best bitcoin wallet in Australia.

🟠 4. Decentralised

Bitcoin is the most decentralised cryptocurrency. What does that mean? It means that the Bitcoin network is distributed across many different computers, known as nodes. Decentralisation is so important because it prevents a single point of failure to attack, making it almost impossible for any organisation or government to take down the network.\ \ Notably, Bitcoin was the first ever protocol to solve the Byzantine Generals problem and create a decentralised network with a shared consensus and that invention gave way to every cryptocurrency that followed, including Ethereum, Litecoin, Dogecoin and Polkadot.

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